Frontken active, up 3.14% on positive technicals

-A +A

KUALA LUMPUR (March 6): Frontken Corporation Bhd rose 3.14% in active trade in the morning session today following a positive outlook on the stock.

At 12.29pm, Frontken rose 3 sen to 98.5 sen with 30.83 million shares done.

RHB Retail Research said Frontken may move higher after it continued holding above the 91.5 sen support.

In a trading stocks note today, the research house said yesterday's white candle sent the stock to its one-week high, thereby enhancing the bullish sentiment. A positive bias may appear above the 91.5 sen level, with an exit set below the 91.5 sen threshold.

"Towards the upside, the near-term resistance is at RM1.00. This is followed by the RM1.10 level," it said.